PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

Former LandCastle Title CEO was Johnson's attorney and "trusted advisor"

Are record-low interest rates masking high-cost mortgage lending?

Five leading economists weigh in and the answer may surprise you

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time
W S
Investments / The Ticker

Flagstar Bancorp pays $121.5 million to settle repurchase claims

rope money
/ Print / Reprints /
| Share More
/ Text Size+

Flagstar Bancorp, Inc. (FBC), the holding company for Flagstar Bank, has entered into an agreement with Fannie Mae to resolve repurchase requests and obligations associated with loans originated between Jan. 1, 2000 and Dec. 31, 2008, for a total resolution amount of $121.5 million, the company said in a press release.  

After paid claim credits and other adjustments, the bank will pay $93.5 million to Fannie Mae, the company noted.

"This agreement represents another significant milestone in Flagstar's resolution of legacy issues," said Alessandro (Sandro) DiNello, Flagstar's President and Chief Executive Officer.  "We remain dedicated to providing high quality products and services to our customers while further reducing risk and improving performance.  We are confident that we are taking the right steps to deliver improved financial results and shareholder returns."

Recent Articles by Brena Swanson

Comments powered by Disqus